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Business Strategies - Coggle Diagram
Business Strategies
S.M.A.R.T. Goals
Specific goals that are clear
Measure of success that everyone can understand
Attainble goals to ensure that they can be achieved
Relevant goals to ensure it is meaningful and contributes to the mission
Time-based goals to track progress
Green Strategies
Create greener products like using recycled materials or resources that has lower carbon footprint
Have a recycling or waste reduction programme and actively encourage consumers to participate
Choose sustainable packaging to ensure not a lot of materials is used unnecessarily
Be an environment advocate by adopting or partnering with organisations that advocates going green
Create green campaigns to reach out to the public and teach them about being sustainable
S.W.O.T Analysis
Strengths: Product, process, cost, unqiue
Weaknesses: Features lacking in product, limitations
Opportunities: Trend, better technology coming, chaning buying habits of consumers
Threats: New competitors, competitors gaining more market shares, change in legislation, PESTLE (Political, Economic, Social, Technological, Legal, Environmental)
4Ps
Product: How the product is different from others in terms of quality, quantity and intellectual property protection
Place: Product's channel of distribution or how it is conveyed from producer to end user
Promotion: Communicating product's attributes and coporate image to sellers and end users
Price: Ensure that it can cover costs and generate sales with strategies like penetration pricing, fair/parity pricing, skimming pricing and cost-plus pricing
Target Market
Demographic: Types of people that are buying (e.g. gender, age, race, income levels)
Psychographic: The buyers interests, why they would buy (e.g. lifestyle, social class, personality)
Usage related/Behavioral: Timing of launch (trends, season) and life cycle of product when the product is favourable in the market
Strategy Canvas
